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6 April 2010SHAREHOLDER UPDATEOBJ (ASX: OBJ) is pleased to...

  1. 288 Posts.
    6 April 2010
    SHAREHOLDER UPDATE

    OBJ (ASX: OBJ) is pleased to provide shareholders with an update of activities with its
    potential partnering companies and marketing developments.

    3M Material Transfer Agreement
    The Company announced a Material Transfer Agreement (MTA) with 3M in November
    2009 and a subsequent extension to the program in January 2010 to accommodate the
    broadening of the testing program. Following the completion of that initial phase, OBJ
    and 3M have agreed to extend the testing and to work closely with OBJs partners.
    3M has granted permission to the release of the following commentary.

    OBJ is pleased to announce that 3M has confirmed its interest in working with
    OBJs current or potential clients in patch development and/or contract
    manufacturing following testing performed by 3M Drug Delivery Systems
    laboratory in St Paul Minnesota.

    Glyn Denison, Director of OBJ commented, "With the number of partners that
    OBJ is working with worldwide, it is important that OBJ has the ability to provide
    professional development and manufacturing facilities to the highest possible
    standard. Continuing our relationship with 3M fulfils that need and allows OBJ to
    offer a full range of development and production programs to partner projects
    supported by 3M Drug Delivery Systems technology and production expertise".

    Under the existing Materials Transfer Agreement (MTA), 3M has studied the invitro
    performance of two transdermal patch formulations coupled with em-Patch
    micro-array formats, with some encouraging results. Pre-existing clinical
    program commitments at 3M Drug Delivery Systems facility will require the
    rescheduling of current testing. OBJ and 3M have agreed to a further 6 month
    extension of the MTA.

    OBJ and 3M will work closely in patch development and manufacturing services
    to OBJ partner companies and will further explore new opportunities in
    pharmaceutical, consumer and consumer healthcare fields.

    Expansion into New Markets
    OBJ has traditionally been a transdermal drug delivery company focusing on drug patch
    technologies for the pharmaceutical and therapeutic markets. While this remains a core
    area for the Company, recent technology innovations have allowed the Company to
    extend its partnering and product developments into the larger consumer and
    homecare markets. The Companys ability to enhance products in the consumer
    healthcare, oral health, skin care, hair care and homecare areas using its physical
    technologies rather than chemical, has given the Company access to global product
    opportunities with faster time to market and lesser regulatory barriers. The Companys
    technologies offer partners significant benefits in the personal and consumer care
    markets as standardized chemical libraries and strict environmental approval restrictions
    often make new chemical formulations cost prohibitive.
    Sam
 
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